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Credit Union loan GW

Frequent Contributor

Credit Union loan GW

I had an auto loan that has been PIF for over a year now. I had been working on GW other negs on my reports (some successful, quite a few unsucessful) and I hadn't bothered with the auto loan as it isn't my WORSE derog info but i did have a few 30 day lates and a couple 60 day lates sprinkled throughout the entire loan.

 

Its a local CU so I'm sure not really anyone would have info on them directly, but I'm just curious with the success rates people had with GW multiple lates from credit unions. Its reporting on all 3 reports and all info is accurate to the T.

 

I know it doesn't hurt to try, but I'm just trying to formulate what expectations I should hold prior to sending the letter.

 

Let me hear your stories.



Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three
Message 1 of 5
4 REPLIES
Valued Contributor

Re: Credit Union loan GW

Do you still bank with the CU?  I've found CUs are the only banks that give a crap about your relationship with them, so it may work in your favor

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
Message 2 of 5
Frequent Contributor

Re: Credit Union loan GW

Sadly no, they pretty much screwed me over after the loan closed - I had only opened the account for the loan.

 

I had a free savings account with them and when I signed up it was no fees - and miserable interest rate but the $25 I had in it kept it open.

 

Literally the day after I got my title and the loan pay off papers from them, I got a letter saying that my account went under review and that I was now going to be a charged a $25.00 administration fee starting immediatly and that they were closing the account and sending me the balance (which was for the interest for the 3 years I had the account) their resason was for inactivity as a member with the credit union- even though I had a loan with them up until the day before.

 

Guessing this is going to be a tough nut to crack then.



Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three
Message 3 of 5
Valued Contributor

Re: Credit Union loan GW

Ouch.  How old is the loan?  When was the most recent 30? 60?

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
Message 4 of 5
Frequent Contributor

Re: Credit Union loan GW

The loan was a 3 year loan, final payment was made in July 2011. I had a 30 day late and a 69 day late earlier in 2011 and then a couple 30 and 60s sprinkled throughout the entire loan.

I'm going to send it no matter what, I was just hoping someone had some stories. Either way I'm going to include a copy of the "we're closing your account" letter with the date circles along with the "you paid off your loan" letter and see if they realize that this is a major slap in the face to someone who made good on their devt


Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three
Message 5 of 5